Interested in nTMS brain mapping? Then you don’t want to miss out on the upcoming EANS Young Neurosurgeons’ Network meeting in Sicily, as there will be a dedicated full-day session on nTMS!
Following the invite of YN Committee Chair Giovanni Raffa, leading experts from Heidelberg University, Charité Berlin, TU Munich, King’s College, Messina University, Montpellier University and several others will be showcasing their latest findings, and you will have the chance to learn from and discuss with our fantastic nTMS user community!
But that’s not all! Nexstim is also supporting a hands-on workshop on site, where you will have the chance to see what non-invasive brain mapping is all about, and why it is so useful to have this functional data.
Of course, you also have a chance to chat with us at the Brainlab booth in the exhibition area during breaks. We hope to see many of you there!
Have a peek at the nTMS-portion of the program below and find more information following this link: LinkedIn
A recently published retrospective study by researchers at Turku University Hospital investigates the feasibility and potential additive effects of multilocus repetitive transcranial magnetic stimulation (rTMS) in patients with more than one co-occurring neurological or psychiatric disorder.
The study examined 31 patients who received rTMS targeted at multiple cortical areas for the treatment of overlapping conditions, including depression (n = 30), chronic pain (n = 15), tinnitus (n = 7), anxiety (n = 6), OCD (n = 3), and eating disorders (n = 3). Treatment was administered over 10 days. Protocol and cortical target combinations varied according to indications. All assessments were performed at baseline and after 10 days of treatment.
Key findings:
84% of patients responded to treatment in at least one of their comorbid conditions. 19 patients showed improvement in both targeted conditions. No serious adverse events were reported. A positive global impression of change was observed in 85% of assessed cases (n = 20).
These results support the utility of multilocus rTMS in managing complex, overlapping conditions. The authors note that patient-specific factors may play a role in the observed efficacy, warranting further investigation. The study adds to the growing evidence for rTMS as a multidimensional tool in neuropsychiatric treatment, especially in patients with comorbidities.
I have tried to digest that research, but it was so much outside my area of expertise that I had to enlist the help of OpenAI’s deep research.
Here is an AI-generated summary of that research from Nexstim’s perspective:
TL;DR: Recent cutting-edge research (Russo et al., Nature Communications 4/2025) shows that the TMS pulse does not stop at the surface but initiates a cross-species consistent cortico-thalamocortical response – the late EEG component arises from a thalamic “rebound” discharge. The study was conducted using Nexstim’s navigated TMS-EEG system.
Why is this important for Nexstim?
Scientific Validation
Confirms the TMS mechanism debate in Nexstim’s favor: the response is a genuine brain effect, not just a “click sound + skin sensation” artifact.
Navigated TMS (SmartFocus) gains strong reference when used by the world’s leading researchers.
Business Growth Potential
Diagnostics: The TMS-EEG late response (thalamus) serves as a biomarker for the state of consciousness → potential for intensive care, neurosurgery, monitoring of brain injuries.
New Indications: As the role of the thalamus becomes clearer, TMS treatment can be better justified for OCD, chronic pain, PTSD, etc.
Rehabilitation & Closed Loop: Navigated TMS + EEG enables real-time response measurement and treatment optimization – competitors do not yet have this.
Competitive Advantage vs. Other TMS Companies
Neuronetics/NeuroStar: high volume, but without navigation, stimulation misses the target ~70% – now it is emphasized why accuracy = better network response.
BrainsWay (Deep TMS): broad H-coil stimulates “all at once”; research supports the view that a precise focused pulse is sufficient when the network is activated internally.
Magstim: is only now building an integrated TMS-EEG – Nexstim already has a complete package.
Investor Takeaway
The research raises the credibility of the entire TMS field, but especially Nexstim, whose USP is precise navigation + EEG feedback loop.
New high-value segments are opening up (consciousness measurement, pain, OCD).
Commercializing the lead requires investment in clinical results & partnerships, but the scientific backing is now stronger than ever.
Bottom line: Nexstim holds technology that directly targets the “correct neural network” described in the research. If the company can translate this into clinical evidence and sales, the upside is significant.
Näin Chris-Tina Witzig, Brainlabin tiedottaja messuilta; Linkedin
Brainlab at AANS 2025 – See you in Boston?
Excited to share that Brainlab is at the American Association of Neurological Surgeons (AANS) 2025 annual meeting in Boston! If you’re attending, make sure to stop by booth #818, level 0 at the Boston Convention & Exhibition Center to explore our latest innovations in neurosurgery, including:
Elements Fibertracking* Nexstim nTMS Microscope Navigation with ZEISS KINEVO® 900 S* Cirq® for LITT**
One of the event highlights is Thomas Beaumont, MD, PhD, Neurosurgeon at UC San Diego Health, speaking on Saturday, April 26 at 12:15 PM at the Neurohub. He’ll share insights on how combining Elements Fibertracking, Augmented & Mixed Reality, 5-ALA fluorescence, and cortical mapping* can help optimize resection strategies for diffuse gliomas.
It would also be good to comment on the weaknesses, as has been done in the article itself. The biggest shortcoming is the absence of a placebo, as a mere placebo effect can help with pain and depression.
Strengths and Limitations of the Study
There are several limitations to this study with uncontrolled, retrospective, and open design; heterogeneity of the clinical conditions treated; and individually adjusted rTMS procedures applied. In addition, the evaluation of treatment effects in all therapeutic indications was precise in only 23 patients with complete numerical scores available at the end of the induction phase (all treated at the department of clinical neurophysiology). In the remaining patients, the response to treatment was less consistently assessed with numerical scales and relied partly on overall clinical evaluation and patients’ impression of change (at the department of psychiatry). Furthermore, for the whole group, only short-term effects at the end of the 10-day induction phase were available to assess the efficacy of the treatment."
But then again, one has to start somewhere.
For me, the most interesting was tinnitus, where 100% of patients seemed to have received relief from their condition. Although one can “learn to live” with tinnitus, one might imagine that the patient himself would recognize, for example, the intensity of the sound – in which case the placebo effect might be smaller.
What an incredible time at the American Association of Neurological Surgeons (AANS) 2025 annual meeting in Boston, US!
A huge thank you to everyone who stopped by our booth to explore the latest neurosurgical innovations, including Elements Fibertracking** and Nexstim nTMS, Microscope Navigation** with ZEISS KINEVO® 900 S and Cirq® for LITT*. We had amazing discussions on how technology is shaping the future of neurosurgery.
A special highlight was the insightful talk of Thomas Beaumont, MD, PhD, Neurosurgeon at UC San Diego Health, on combining Elements Fibertracking, Augmented and Mixed Reality**, 5-ALA fluorescence, and cortical mapping to optimize resection strategies for diffuse gliomas.
Your engagement, questions, and feedback truly made this event unforgettable. See you at the next one!
To be honest, there haven’t been very significant “real” purchase transactions last month. TJ’s shares were acquired through options at an average price of 2 euros. Of course, it’s good that TJ exercises the options, but at the current price, it would be foolish not to. Forss’s acquisition was a positive thing, but is approx. 3k shares a significant amount? Positive, but perhaps not significant. Otherwise, the hundred list was quite quiet, again a waiting sentiment.
When is the business update report coming? In recent years, the report has already been available for us to ponder at this stage. Hopefully, it will come early next week.
It looked good. Sales are quite in order compared to recent years, “several” deliveries have been agreed upon with Sinaptica, Brainlab is rolling, and despite the global situation, growth is expected.
This was the most pleasant new information: “in April, we had the pleasure of hosting the Sinaptica team at our Helsinki headquarters for practical validation testing of the first prototype device for Sinaptica’s next clinical trial… …With the positive feedback received during the visit, Sinaptica agreed to acquire several devices for use in the multi-center study for Alzheimer’s disease, which is now commencing. The parties will continue negotiations on the actual agreements for a long-term 10-year collaboration, now seeking ways to bring the agreement into force in phases.”
This past weekend, we were excited to see the lecture hall packed at the European Symposium on nTMS Applications in Neurosurgery, held as part of the 14th Annual EANS Young Neurosurgeons’ Network Meeting and Research Course.
The event brought together some of Europe’s leading neurosurgeons and researchers to share their latest findings in the field of nTMS.
Highlights included:
Updates on motor and language mapping with nTMS The use of nTMS in cervical myelopathy Integration of nTMS-based fibertracking in preoperative planning A hands-on workshop, showing how nTMS is used in practice Integration of nTMS-based connectomes nTMS and neuroplasticity Pre-habilitation with nTMS Postoperative paresis recovery using repetitive nTMS
It’s inspiring to see how nTMS has become an established technique at so many top neurosurgical centers, not just as a diagnostic and planning tool, but as a springboard for innovative research. A big thank you from Nexstim to the organizers, presenters, and all the nTMS users driving this field forward!
To learn more about the use of nTMS in neurosurgery, have a look here: LinkedIn
Here are Antti Siltanen’s comments when Nexstim published its Q1 business review on Monday.
The company reported delivering two diagnostic devices in the seasonally quiet early part of the year, similar to the comparison period. After the review period, the company announced that it had agreed on the delivery of several devices to its partner Sinaptica Therapeutics for an upcoming Alzheimer’s disease study, which supports growth forecasts. Otherwise, Nexstim’s early year has included advancing the Brainlab collaboration agreed upon at the end of last year and promoting sales permits for the NBS6 diagnostic device to be launched this year.
I’m really wondering why positive news doesn’t really move Nexstim. It seems that many who have invested in Nexstim already have everything tied up in the stock.
Nordnet has introduced a feature that shows the number of owners of a stock in Nordnet, and indeed, Nexstim is still a very niche thing for now. Perhaps at some point, its recognition among investors will start to rise, and with that, positive news would likely have some impact on the stock price in addition to the business itself. People are naturally herd animals, and who would want to buy this cheaply now, when they can buy it at the same time as everyone else when this year’s results are published.
Nexstim has had 4,582 owners on 2.5.2023 and now 4,580 owners on 3.5.2025. So, two have dropped along the way?
Inderes has a functionality where you can click your own opinions on stocks, and Nexstim is certainly liked there, but the number of clickers is probably quite moderate compared to Neste.
Interesting tables. Especially the number of owners and its constancy. Also, the list of the 100 largest owners has hardly changed; K2 sales seem to be the biggest change in 1 year. This probably indicates the owners’ faith in the potential for success.
I have previously brought up Nexstim’s “invisibility”; even now, there are only 7 likes on X for the business update. Nexstim does not (yet) attract foreign investors. What is the reason for this then? Too low revenue? Nexstim was one of the strongest risers on the stock exchange last year, but then the enthusiasm waned when no news came out. The business update contained many good, concrete points compared to last year, but the reception was ±0. Perhaps a cautious, even boring, “improving results” outlook is not attractive. According to my own calculations, with the sales already announced + Brainlab 4 million, the year’s result should already be in the black, and year-end sales will then be on top of zero. Valuation will surely rise when concrete results start appearing in reports or Nexstim dares to raise/refine its estimate for the year’s results.
This hardly applies to all investors ‘avoiding’ Nexstim, but a friend of mine once listened with interest to my elevator pitch for Nexstim and then stated that it was a nice story, but he would never invest in anything he didn’t fully understand.
TMS technology might seem a bit vague at first glance, and I would assume that some put Nexstim on the shelf for this reason. It’s easier to invest their money in, say, Spinnova, as the recycling of rags is perhaps a bit simpler to understand.
Let me also add that I have once heard Nexstim compared to Valkee’s ear light gadgets
I personally continue to believe that Nexstim will be the future coffee table ‘We should have realized that this would become a big deal…’ case.
84% of patients responded to treatment in at least one of their comorbid conditions.
If you’re attending, make sure to stop by booth 
Elements Fibertracking*
Nexstim nTMS
Microscope Navigation with ZEISS KINEVO® 900 S*
Cirq® for LITT**
A special highlight was the insightful talk of Thomas Beaumont, MD, PhD, Neurosurgeon at UC San Diego Health, on combining Elements Fibertracking, Augmented and Mixed Reality**, 5-ALA fluorescence, and cortical mapping to optimize resection strategies for diffuse gliomas.
Your engagement, questions, and feedback truly made this event unforgettable. See you at the next one!
